Why bitcoin is not supported in some countries?

[Hamilcar]

Many governments don't even know about bitcoin existence. They ignore bitcoin better then banning it.

[wisdomcn]

I think so banks are involved in the reason why those countries are yet to adopt bitcoin, because the fast growing of bitcoin is will definitely affect the banking business if the people in there country happens to get awareness about bitcoin.

[Xester]

Its in bangladesh where six months jail is given if a person found using bitcoin.Its usually the countries like bangladesh,bolivia,equador,kyrgystan which have very small economy which were afraid of bitcoin and which think that they would not be able to regulate bitcoin.They feel that bitcoin would be used for promoting illegal products like drugs and they would have to loose tax revenues due to bitcoin.They think that they don't have adequate techniques to trace bitcoin transactions.So,they find banning bitcoin as a solution to these problems.

Really?  There are things happening in some countries about using bitcoins.  Maybe they will put some adjustments on price if for example, they wi encash bitcoin or convert bitcoin into their own currency, maybe they will add some toll or fee for that.  Here in our country it is legal even if only if few people using it.  And actually many people came to know bitcoin because of how bitcoin is use in our country.  Here, we can buy bitcoins online, pay our bills, and even pay tuition fees.

[lethithuha]

Because the governments of these countries do not allow bitcoin to be used because some activities can happen, badly hurt their country.

[Anndrianno]

I'd say the attitude of each country's authorities towards Bitcoin pretty much depends on the position of the country. Let's take a couple of examples: 1) Singapore has been a world financial center for a long time already, which enabled it to get investors and ICO teams from all over the world. 2) Japan badly lacks foreign investment as salaries are way too high for production and there is little the government can do, which made them enable Bitcoin and ICO.

On the other hand there are USA and (especially) China. The two countries have enormous domestic markets and are involved in global trading, which means that there is more money, than citizens can spend, so Bitcoin or any other cryptocurrency are mainly used for offshoring purposes, which makes local authorities take actions to prevent the capital flight.

[erep]

Because the governments of these countries do not allow bitcoin to be used because some activities can happen, badly hurt their country.

Its because they cant control the value of Bitcoin and people will be free to use their currency however they want. No governments and related institutions want that to happen. Bitcoin gives you that freedom and thats why its getting widespread applications.

[Piesel]

If bitcoin is really banned in some country, I think it a way for them to maintain their country at it is.
Like for example, some muslim country doesn't allow Christian people to bring a bible with them or else they will be jail.
I think it's the same way as bitcoin, they only want to maintain their country that's why they don't want bitcoin or they didn't allow the use of bitcoin.

I agree with you but up to now, there are not many countries that ban bitcoin anymore. Most of them have changed their mind and remove the rules so that the people have a  chance to access the new technology. It is a great news to all of us and the bitcoin community. However, the Chinese government has decided to ban bitcoin exchange. I do not know why but I think that it is good because the CHina will no longer be able to control bitcoin as well as the bitcoin price.

[poetra2501]

I think the country has different rules, so every country also does not necessarily approve of bitcoin for circulation, it must also follow the rules set by leaders in the countries.

Yeah that's right, all countries should be submissive for regulations set by the Government. If the Government legalize bitcoin, then there is no other country capable of blocking it. So did the opposite. Countries that don't support the Bitcoin maybe they have their own reasons why Bitcoin was illegal in his State.

[Dhaaaw]

I didn't even know that some country would go as far as take these regulations, so if you would give us some exemples. Secondly, even if it's true, bitcoin is something thats really great for people but its equally as bad for the government it srews up financial plans like crazy and i can see why would people oppose it.

[EllaPonchik]

Some countries are afraid that the country can get out of control. Therefore, some countries prohibit bitcoin. Because they can not control it.

[Mr. Legendaris]

I think because all countries wait each other, we all know that bitcoin is decentralized, if there is a state that officially legalizes bitcoin then it can easily be controlled by speculators.

[BitcoinPC]

Most of countries consider bitcoins as illegal. There's some peoples who use bitcoins for some illegal activity like drugs/Money laundering. They don't want to take there economy down so thats why they don't openly accept bitcoins. They cant completely ban bitcoins, because its not in anyone's control to ban bitcoin completely.

[kafiddrhman]

each country has different considerations for bitcoin and some states receive formal bitcoin but many countries do not officially receive bitcoin certificates and there are even countries that prohibit the use of bitcoin and its use. And based on that, of course, their government has a view of the effects that arise if the official bitcoin in their country

[futile-resistance]

My personal opinion about this question about some countries not yet accepting Bitcoin or not yet recognizing Bitcoin is that since what I know is in economic view a governments lifeblood came from taxes and implementing taxes in wages and other goods gives a government funds that they can use for infrastructure or other expenditure. But since Bitcoin as of this time can be mandated or controlled by a government yet means they cant collect any taxes. For me I think that would be one of the main reason for the other countries to not accept Bitcoins.

yes every country has their rules regulations for legalizations of a currency and that country is bound to obey all these rules, so it will take time but I am hope full that bit coin will easily be legalized on our place after thoroughly studying all the aspects of the bit coin as government  currency.

[wolfgang56]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

Maybe because of their laws and government and it will really take time to approve the legalization of bitcoin as it is not their priority instead how to improve their economic status. It need so much money just to legalize bitcoin and there is no one to pull out money from their own pocket.

[Aniik]

Yes,we know that some countries of the world don't support bitcoin crypto currency. Because,they may think their economic state go down. For this reason they don't support bitcoin in their country. Even I heard some countries announced the sixth month of jail for it.

[Wong Goblog]

Because some countries fear the presence of bitcoin would threaten their economies, when decentralized applied course will be easy for speculators easy to controlling economy.

[lalunalaguna]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

Maybe the government do not see that their country will have a bright future of using bitcoin because as much as there will be a source of income for those people who are unemployed which is with the use of bitcoin, the number of unemployed will be raise because they will now be depending everything into bitcoin cryptocurrency that they will no longer work for a physical job that can result for the shortage in physical power that is needed to do the job in different works. Maybe they cannot still afford generating and operating bitcoin their country.

[Cocobrayy]

Because legalizing Bitcoin takes a long process, and the readiness of the country's government, if their government has not been able to legalize BItcoin in full. perhaps because of it their government of the country forbade it. and Perhaps if one day their country is able to legalize bitcoin, it is possible their domestic economy will move forward. all depend on human resources in their respective countries.

[sumonrud]

I think that,  have many governments they are don't know about bitcoin that's why they are ignored it. it depends on the local government if think they are legal then legal and if think it is not legal then not legal but they will understand about this matter. I am hoping that they will do legal for bitcoin every government. but each country has their own policy and they're concerned that's why it is implemented is difficult for there.